Co Down engineering firm, CM Precision launches new £1m factory
A DOWNPATRICK-based engineering firm has built a new £1 million manufacturing hub in response to growing demand.
CM Precision Components Ltd opened its new 16,000 sq ft facility at Invest NI's Killough Road Industrial Estate yesterday.
The advanced engineering firm, which produces precision machined components for the automotive, materials handling and aerospace sectors,
has invested almost £1m in the project, in an effort to expand its production capabilities and meet the growing demands of its customers.
Managing director of CM Precision, Kieran Cooper described the new factory as a "milestone achievement" for the business.
"We are tremendously proud of our new premises. We aim to build on the momentum gained in our target markets in recent years and are committed to building on the existing strengths of the business to expand our customer base and achieve further success in export markets," he said.
Invest NI has offered CM Precision over £240,000 of property assistance towards project. Welcoming the factory's completion, Bill Montgomery, Invest NI's director of advanced manufacturing and engineering hailed it as an "exciting new chapter" for the business.
“CM Precision's new factory is an encouraging investment that will support the ongoing growth and development of the business in Downpatrick."
“Invest NI support has helped CM Precision across a range of areas, including advice on implementing lean manufacturing principles and processes in the new premises to enhance its bottom line.
“This is an exciting new chapter for the company and we are pleased to help CM Precision locate its purpose-built premises at Killough Road Industrial Estate, "Mr Montgomery added.